CSR Reporting

is an increasingly vital factor in presenting social, environmental and economic credentials to wider community to exhibit their commitments towards the ‘triple bottom line’ of environmental, social and economic performance. CSR reporting is necessitated by all types of organization whether big or small to demonstrate their commitment towards responsible business practices.

Assurance of CSR activities adds credibility and transparency in reported information and it helps repose faith of stakeholders. Assurance demonstrates commitment to corporate responsibility and validity of information made public, hence the assurance of CSR reporting is necessitated.

CSR as per The Indian Companies Act 2013

The CSR provisions as per the Indian Companies Act, 2013 are applicable to companies with an annual turnover of 1,000 crore INR and more, or a net worth of 500 crore INR and more, or a net profit of five crore INR and more. The company has to spend, in every financial year, at least two per cent of the average net profits ofthe company made during the three immediately preceding financial years.

Ministry of Corporate Affairs, Government of India came out with National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business.These guidelines encourages businesses to embrace the “triple bottom-line” approach whereby its financial performance can be harmonized with the expectations of society, the environment and stakeholders. These guidelines are designed to be used by all businesses irrespective of size, sector or location.

URS carries out assurance of CSR policy and CSR activities undertaken by the various Companies. The assurance services ensure accuracy of the CSR reporting which promotes transparency.
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